E-Mini Russell 2000 is Down for the 2nd Day in a Row

News Releases Impacting E-Mini Russell 2000

  • Forecasted Michigan Consumer Sentiment Prel in United States: 72.4.. The previous number: 71.7.. (0.98% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • At the moment, RTY’s price is down 0 (0%) from the hour prior.
  • E-Mini Russell 2000 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on E-Mini Russell 2000. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

E-Mini Russell 2000’s hourly price chart is shown below.

RTY

The Daily View for E-Mini Russell 2000

  • At the time of this writing, RTY’s price is down -37.71 (-1.55%) from the day prior.
  • The daily chart shows that E-Mini Russell 2000 has seen 2 straight down days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between RTY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in RTY’s price.

Below is a daily price chart of E-Mini Russell 2000.

RTY

Featured E-Mini Russell 2000 Commentary From Twitter

#RTY_F

If a recent break out turns into a Bull Trap…

Conditions for this scenario:
– RTY drops below 2350
– RTY continues to slide down towards 2125
– RTY drops below 2125, which will definitely trigger a much wider sell off

What do you think are the odds of this scenario? https://t.co/9aNwWSNe7c

yuriymatso